Vingroup Deputy CEO Resigns After Two Decades

Mai Huong Noi, a deputy CEO at Vietnam's largest conglomerate Vingroup, has resigned for personal reasons after two decades with the company. Vingroup, controlled by Southeast Asia's richest man Pham Nhat Vuong, announced Noi's departure on Wednesday. Noi, 57, previously worked in Hanoi's postal sector from 2004 to 2006 before joining Vingroup. During her 20 years at the conglomerate, she held several leadership positions, including CEO and board member. Following her resignation, Vingroup's management board will consist of three members: CEO Nguyen Viet Quang, deputy CEO Duong Thi Hoan, and chief accountant Nguyen Thi Thu Hien. Vingroup's revenues rose by 72% year-on-year to VND221.92 trillion ($8.6 billion) in the first six months of this year, with post-tax profits surging five-fold to VND20.9 trillion. Vuong, Vingroup chairman, is the richest person in Southeast Asia with a net worth of $38.1 billion. His wife, Pham Thu Huong, deputy chairwoman, is the third-richest woman in the region with $4.3 billion. The resignation of a key executive from a prominent company like Vingroup, which plays a significant role in Vietnam's economic landscape, will be closely watched for any potential impact on its future strategies and operations.